Should I get worried because I took Aegon Religare Term Plan whose claim settlement ratio is just 68% as per IRDA ?

POSTED BY itsvibhor ON May 13, 2014 3:36 pm COMMENTS (2)

Hi,

I had taken a term cover in 2012 (bought online) from Aegon Religare, which was issued after a complete medical check-up/test. I was 32 then & the premium for a cover of 1Cr for 30 years came to Rs 9200 p.a.

Recently, I found through IRDA site that the claim settlement by Religare for term covers is just 68% – which puts it in the bottom 5 insurance providers – My query is that is this something to be worried about & should I discontinue this plan & buy another one?

Thanks

Vyom

2 replies on this article “Should I get worried because I took Aegon Religare Term Plan whose claim settlement ratio is just 68% as per IRDA ?”

  1. ashalanshu says:
    May 14, 2014 at 11:43 am

    Dear Vyom, why no insurer has 100% claim ratio?

    Thanks

    Ashal

    Reply
  2. Nikhil Verma says:
    May 13, 2014 at 9:19 pm

    Dear Vyom,

    I don’t think you should be worried if you have made all the declarations correctly. Even then if you want to switch please purchase another Insurance before discontinuing current policy.

    Regards,
    Nikhil

    Reply

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